#JASMY/USDT : Above the Resistance Line – What's Next?

$JASMY

Based on the latest analysis, JASMY/USDT shows significant developments across multiple timeframes. The 1-hour and 4-hour charts indicate a bullish momentum, with the price recently breaking above the 200-period Moving Average (MA). This break suggests a potential upward trend continuation, especially as the price has successfully crossed above the previous descending trendline, which acted as resistance around 0.03110 USDT.

The Relative Strength Index (RSI) on the 1-hour timeframe stands at 67.46 and on the 4-hour at 57.63, both of which are approaching the overbought territory. This suggests that while bullish momentum is present, caution is warranted for potential short-term pullbacks or consolidations. The MACD indicators also confirm this bullish sentiment, with positive crossovers and an upward-trending histogram indicating strengthening buying pressure.

On the daily chart, JASMY/USDT has been trading within a descending triangle pattern, with the price testing the lower boundary as support around 0.02000 USDT. The recent price movement above the descending trendline and towards the 0.03110 USDT resistance level indicates a potential breakout from this bearish pattern.

However, sustained volume and continued momentum will be crucial to confirm this breakout and target higher resistance levels, such as 0.03500 USDT.

The volume analysis shows increasing trading activity, supporting the bullish breakout. However, if the price fails to hold above the breakout level and volume diminishes, there could be a risk of the price falling back into the previous consolidation range or even retesting the lower support zone around 0.02000 USDT.

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